Shire’s $2.4bn oncology sell-off seen as Takeda spoiler

Shire is to sell its oncology business to France’s Servier for $2.4 billion, in a move seen as a deterrent to a takeover by Takeda.

The deal works for Servier, which has been trying to build its presence in the oncology market for the last few years, by giving an immediate presence in the US.

But the move also means Shire becomes less attractive to Takeda, which has until 25 April to formally announce a takeover bid under UK stock market rules, after expressing an interest earlier this month.

The $2.4 billion raised allows Shire to keep its investors happy with a share buyback scheme, and to focus on its core rare disease business.